Property briefs

The NSW government has launched a peer review of remediation plans at the Barangaroo project in Sydney. It will be undertaken by an independent auditor for a panel chaired by the Office of Environment and Heritage and including the City of Sydney, Australians for Sustainable Development, Lend Lease and the Barangaroo Delivery Authority. It is expected to take three months but not delay the development, with Planning and Infrastructure Minister
Brad Hazzard
already approving remediation for the first stages of the $6 billion redevelopment, including a basement car park to service office towers on the site, and the headland park. Ainslie Chandler

Melbourne developers Donald Musto and Phillip Maynes will pay their own novel tribute to rock legend David Bowie in their next apartment project by imprinting the face of his alter ego Ziggy Stardust on its facade. The development in Prahran will have 18 one and two-bedroom apartments over five levels. Ben Hurley

Palace Cinemas is the preferred operator of a proposed five-screen cinema complex in Sydney’s Double Bay. It is part of development being considered by Woollahra Council for the former Stamford Plaza Hotel site.

Ben Hurley

The Australian Securities and Investments Commission has finalised proceedings against Great Northern Developments in the Supreme Court of NSW. ASIC began proceedings in September 2009, alleging the loans and promissory notes Great Northern had used to raise funds to develop projects in Queensland was in breach of the Corporations Act. Last September, the court confirmed Great Northern had contravened the Act by failing to appoint a trustee or enter into a trust deed. Great Northern had not been able to secure a trustee since and ASIC assisted by transferring investors to the La Trobe Australian Mortgage Fund and giving them a mortgage over Great Northern’s properties. Lisa Carapiet